What he didn’t cover:

Is Silver’s relationship to the $USD, provided below:

Please note that Silver is now right at trendline support.  Definitely something to watch closely.  Also, the ADX indicator is now at an extremely low level where previous tradable bottoms have formed.  Or course – doesn’t mean it couldn’t go even lower – see purple highlights for potential fractals.

I’m going to re-post the weekly $USD chart showing the recent relationship between Silver and the $USD again, and how Silver derived no benefit from USD’s falling price over the past year…

What to make of this?  That Silverbugs were raped with the USD falling and will now be sodomized with the USD rising?  Sorry I’m not sorry if that’s too graphic…silverbugs know what i mean.

But I still like the way this Silver monthly (log) chart looks – using the SLV proxy, until I don’t: